At the Annual General Meeting of Icelandic Group the CEO presented that the budgeted sales for the year 2007 amounted to 1.550 million and EBITDA is budgeted at 70 million.
The CEO also presented a new organizational structure for Icelandic Group which the Board of Directors approved in a Board Meeting on 23 March 2007. The organizational structure will in the future be based on four main pillars, Icelandic Europe, Icelandic USA, Icelandic Asia and Icelandic Marketing. The purpose of this change is to sharpen the focus on the operation of all units within Icelandic Group. All service and investment operations will be included in Icelandic Investment and Development.
Icelandic Europe will consist of all the manifacturing operations of the Group in Europe, which are Seachill and Coldwater Seafood in the UK, Pickenpack Hussmann and Hahn in Germany, Pickenpack Gelmer in France and Icelandic Scandinavia in Denmark. The shares in the associate Maru Seafood in the Faroe Islands will also be included in Icelandic Europe. The CEO of Icelandic Europe will be Finnbogi A. Baldvinsson.
Icelandic USA will consist of the manifacturing operations in the US and the operations of Ocean to Ocean in Canada and the US. The CEO of Icelandic USA is Ævar Agnarsson.
Icelandic Asia includes the Group´s operations in China, Korea and Thailand. It also includes Icelandic Group´s shares in Elite, a Tilapia fish farming operation in China. The CEO of Icelandic Asia is Ellert Vigfússon.
Icelandic Marketing includes Icelandic Iberica, Icelandic France, Icelandic UK, Marinus, Icelandic Japan and Icelandic Norway. Björgólfur Jóhannsson is the CEO of Icelandic Marketing.
Icelandic Investment and Development includes the operations of Icelandic Services, Gadus, Danberg, Fiskval and VGI.
Björgólfur Jóhannsson will continue as CEO of Icelandic Group.
